TechSource: Commercialization

ALL NEWS

Federal COVID-19 Stimulus Package Signed

Congress has approved the largest U.S. stimulus package ever to help provide economic relief to businesses and workers affected by the COVID-19 outbreak. The $2 trillion legislation has now been signed by President Trump.

The Federal Government is working diligently on developing the application process for these loans and we will let individuals know that information when it is released and applications are open.

The bill offers the following aid for small businesses (those with less than 500 employees), 501(c)3s, sole proprietors, and independent contractors

SBA Economic Injury Disaster Loan (EIDL)

Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the outbreak of COVID-19. These loans are intended to assist through the disaster recovery period.

Small Business Emergency EIDL Grants

Small Business Emergency EIDL Grants are direct grants for businesses that apply for but do not qualify for the EIDL program.

Paycheck Protection Loans

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses that maintain their payroll during this emergency. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

Other provisions

For borrowers who already had SBA 7A loans in place before COVID-19, $17 billion is allocated to have SBA step in and make six months of principal and interest payments for all SBA backed business loans.

Payroll tax credit

A payroll tax credit for wages paid by businesses that fully or partially close due to Coronavirus.

Payroll tax deferral

Allows businesses to a deferral for payroll taxes owed in 2020. Half would be payable in December 2021 and the other half in December 2022. Businesses receiving other EIDL or Paycheck Protection Loans would not be eligible.

The Federal Government is working diligently on developing the application process for these loans and we will let individuals know that information when it is released and applications are open.

READ MORE
"The small business support from Colorado SBDC is phenomenal. The consultants are of the highest quality, high integrity, trustworthy and incredibly helpful. The time savings and ability to take on more work is facilitated by having this kind of support available to the small business, particularly in the technology sector."
Ratiocinative Engineering Services LLC
Ratiocinative Engineering Services LLCHelen Petach
"Thank you for the SBDC help once again. I submitted our latest SBIR Phase I proposal to USDA yesterday. Brian Ormsby was invaluable with helping with the budget calculations, particularly the indirect rate calculations, and his style ("no nonsense, let’s get the numbers calculated and into the right places on the budget forms") was exactly what I needed."
Pisces Molecular
Pisces MolecularJohn Wood
"Through the SBDC, I received significant support in business development, marketing, financial projection, customer discovery, government compliance and many other business aspects. This support allowed me to have a strong start for my startup company, write solid proposals (including a commercialization plan for the SBIR grant) and be successively awarded SBIR Phase I and Phase II grants by USDA NIFA. But the most valuable part was, because of the SBDC and their consultants, I feel like I have a team of professionals ready to cover my back in the most important journey in my life - building a small business."
SunCatch Ltd
SunCatch LtdOlga Marinkina
"Thank you for organizing this great informative session on the PPP utilization part. I have been in conversation with Dan King and want you to know that you guys are doing a great job in helping small businesses like us. Thank you for all the work you guys do!"
Durgesh Singh
Durgesh SinghMagswitch Technology
"Thank you so much for your time! Besides the great information, your energy and support were priceless! It is so good to feel you are not alone in this journey."
Laila Marzall
Laila MarzallTSM Microwave
"As a new resident in rural Colorado I was truly at a loss about the tech community out here until I attended the SBDC TechSource event in Salida. I was truly impressed by the quality of the content at the event (compared to similar events in Chicago), was able to make some great connections within the local community, and was able to sign up for additional services as well. SBDC assisted us with market research which helped expedite our focus in Colorado and helped connect us with funding sources to expand. Beyond that they were quick to respond, a pleasure to work with, and went above and beyond with their services. I would absolutely recommend SBDC TechSource to another tech company, especially for companies outside of the front range that are looking to connect and grow rapidly."
Chris McLaughlin
Chris McLaughlinVital Command
"We have certainly worked with SBDC in the past and think Sharon and the rest of your office serve a critical function and put on excellent events to support the small business community."
Erica Dawson
Erica DawsonInDevR
"After almost two months of messing with Chase Bank, Susan got us the PPP loan filed and approved in about 8 hours. I hesitate to celebrate until money is in the bank, but it’s looking good and Susan was absolutely amazing. Of course, I’m wouldn't even be talking to Susan if you hadn't made the connection, so chalk up another small business success to SBDC. I see why you’re the best on the country. This loan was crucial to our success at a critical time in the world. All I can say is thank you."
Jeff Schott
Jeff SchottEarthvisionz
"I just wanted to send a quick note and let you know how helpful Brian Ormsby has been. He responded to my query about a week and answered a bunch of questions about the EIDL, and then we talked again to day about the PPP. I’ve asked several other resources about my PPP questions and he was the first person to answer them. I can’t stress enough how nice it is to be able to talk directly to someone who can answer questions about all of these programs. So thank you very much for making him available...!"
David W. PaulsonAccuer, Inc.
"Colorado SBDC Techsource assisted our start-up company in multiple ways: by providing us with a competitive analysis that we use in our Business Plan, providing advice on an SBIR proposal, and by providing some pro bono legal work, that helped with the current investment round. All of which were very helpful to a small business with limited resources."
Diana Hall
Diana HallActivArmor
"We still have steps to go but we are excited and confident that we will have a technology startup that works globally based in SW Colorado and we hope others will follow. We would not have made the progress we have without the advice and help of Colorado SBDC."
Michael Engleman
Michael EnglemanMission Sports
"When I was first beginning Sandbox Solar, I was referred to the SBDC in Greeley. Jenn and the team helped connect me with a lot of people including our current lawyers and accountants. Sandbox Solar has steadily grown since then into the leading solar installer in Northern Colorado. Our company moved into the Colorado State University Powerhouse in 2015. Through that relationship we have been involved in research including Agrivoltaics. Our team is beginning the commercialization phase of this new concept and business model. We turned to SBDC to assist with market research. This was incredibly beneficial to receive market reports that would be otherwise inaccessible. The research was presented to us in a way that has helped narrow our focus and commercialization plan. Our team is excited for the next steps of our new ventures and value the SBDC as a strong partner moving forward. I would highly recommend the SBDC to any company in any stage, because their team has the resources and connections to help find answers."
Ian Skor
Ian SkorSandbox Solar
Previous
Next

TechSource: Commercialization Sponsors

TEXT TECHSOURCE TO 22828

to get relevant news and updates regarding the TechSource: Commercialization program delivered to your inbox.

TechSource Logo-Red
SBA-PoweredBy-large-FINAL-large.jpg

© 2022 Colorado SBDC TechSource. All Rights Reserved.

The Colorado Small Business Development Center Network is a partnership between the State of Colorado, Colorado Office of Economic Development and International Trade, the Small Business Administration (SBA), Colorado’s institutions of higher education, local economic development organizations and local chambers of commerce. Funded in part through a cooperative agreement with the U. S. Small Business Administration.

Skip to content